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Google looks to branch out further into China with new Tencent deal

by | 19 Jan, 2018

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A step into new territory for the American tech giant

Google has agreed to a patent licensing deal with China’s Tencent as it looks for ways to improve its access to Chinese markets where many of its products are blocked by regulators.

Google said today that the agreement with Tencent covers a broad range of products and paves the way for collaboration on technology in the future, but did not disclose any of the financial terms of the deal.

Google has previously signed agreements with Samsung Electronics, LG Electronics and Cisco Systems, but the deal with Tencent is a first with a large Chinese tech firm.

A closer relationship between these 2 major tech players could spell good news for both America and China as a whole. By collaborating on new projects and technologies, both Google and Tencent could help to heal a China/U.S. relationship which is strained partly due to accusations of intellectual property theft, with U.S. companies complaining they lose hundreds of billions of dollars in technology and millions of jobs to Chinese firms which have stolen software and ideas.

Google has previously said that agreements such as these reduce the potential litigation over patient infringement.

Over the past year, Google indicated it was looking to expand its role in the restrictive Chinese market, with the launch of a local AI research lab and introduction of a version of its translation app.

Related: China labels Bloomberg report on stopping debt purchases as ‘fake news’

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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